Tag: tax

Today, April 17th, is tax day here in the U.S, but a significant number of investors have apparently not reported gains from digital currency trading to the Internal Revenue Service (IRS). TeamBlind and Credit Karma According to a survey from TeamBlind, the anonymous messaging app popular in fintech circles, 46% of...

In just two days, the U.S. tax filing deadline, April 17th, will be here. Despite this, only a very small fraction of Americans have reported their cryptocurrency holdings. In fact, data released from Credit Karma reveals that fewer than 100 people — out of the most recent 250,000...

The price of Bitcoin seems to have switched to a bullish momentum after spending a period of two months on a downward path that shed about $5,000 of its value. The market rebounded across the $8,000 line on Friday and crossed $8,400 already. Bears argue that a short squeeze is behind what they call “a market correction”, but...

Taxation is an important aspect of the cryptocurrency industry. It is very much possible the taxation season effectively triggered the recent Bitcoin price decline. With these concerns almost gone, the markets are rebounding strongly. This yearly cycle will continue to repeat itself for the foreseeable future. Taxation and...

The South African Revenue Service (SARS), the revenue service of the South African government, is ordering taxpayers to declare cryptocurrency gains and losses or risk facing penalties, regardless of how unclear the tax rules are at the moment. South Africa’s Tax Agency to Apply Penalties on Those Who Fail...

The ATO has officially warned the public to beware of scammers demanding fake tax payments in the form of Bitcoin. ATO Doesn’t Take Bitcoin Yet Mate It is a scenario that is most often related to the elderly. A scammer calls on the phone and delivers a line...

Coinbase, the largest cryptocurrency exchange in America, has updated its tax tools to help its U.S. customers comply with IRS guidelines for reporting digital asset gains. Coinbase Updates Tax Tools For U.S. Customers While not being legal or tax advice, Coinbase’s post may prove to be very useful...

Thailand’s cabinet is set to vote on implementation of a new 10% capital gains tax on profits from cryptocurrency investment. Royal Decree will empower the SEC to regulate digital currencies. New Tax Part of Royal Decree The Thai Revenue Department has asked the cabinet to vote on an...

The Israeli Tax Authority has issued a circular outlining its position on Bitcoin and other digital currencies. The agency will look at the issue in two ways to determine tax status: Those who buy digital currencies as an investment, versus those who trade in order to make a living...

In response to the minister of finance naming cryptocurrency as illegal tender Indian exchanges have banded together to create a central repository to maintain a real-time database of traders in a bid at self-regulation. Exchanges propose self-regulation When Finance Minister Arun Jaintly named cryptocurrency illegal tender in his early February budget speech he set off...

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